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Modeling Production for General Equilibrium Analysis

  • Dale W. Jorgenson
Part of the Scandinavian Journal of Economics book series (SJE)

Abstract

The purpose of this paper is to present econometric models of producer behavior suitable for incorporation into a general equilibrium model. Implementation of these models requires a time series of inter-industry transactions tables. Second, implementation requires methods for estimation of parameters in systems of nonlinear simultaneous equations. Finally, the economic theory of producer behavior implies equality and inequality restrictions on the parameters that must be incorporated into the estimation. We discuss an empirical application to modeling producer behavior in thirty-six industrial sectors of the U.S. economy.

Keywords

Technical Change General Equilibrium Model Material Input Relative Prex Price Function 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© The Scandinavian Journal of Economics 1984

Authors and Affiliations

  • Dale W. Jorgenson
    • 1
  1. 1.Harvard UniversityCambridgeUSA

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